Expand Your Horizons: Purchasing a Second Home
Your Guide to Vacation Properties and Getaways
At Shawn Mooney - Mortgage Architects, I understand that purchasing a second home is more than just a transaction—it is an exciting lifestyle choice.
Whether you are looking for a summer cottage by the lake, a mountain retreat for family getaways, or a condo in the city for your children attending university, I am here to navigate the specific lending criteria that come with vacation properties.
The Benefits of Owning a Second Home
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Personal Retreat: Enjoy a dedicated "home away from home" for family vacations, creating lasting memories without the hassle of booking hotels.
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Future Retirement Planning: Secure your dream retirement location at today's prices, allowing you to pay down the mortgage before you stop working.
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Potential Rental Income: Many second home owners offset their costs by renting out the property on a short-term basis when it is not in personal use (subject to lender guidelines).
Why Choose Shawn Mooney?
Financing a second home is different from your primary residence. Lenders distinguish between "Type A" (winterized, year-round access) and "Type B" (seasonal, cottage) properties. You need an expert to guide you.
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Expert Guidance: With over two decades of experience, I can quickly identify which lenders have the best appetite for the specific property type you are buying.
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Access to Multiple Lenders: I work with a wide range of lenders to find the best rates, even for unique properties like cabins or rural homes.
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Comprehensive Support: From the initial pre-approval to the final closing, I offer full support and answer any questions regarding down payment requirements for second homes.
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Mobile Service: Enjoy the convenience of having a mortgage broker come to you, with flexible hours to fit your schedule.
Steps to Purchasing a Second Home
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Get Pre-Approved: Contact me to determine how much you qualify for. Lenders will look at your ability to carry mortgages on both your primary and secondary residences.
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Start Your Search: Begin your search with confidence. Knowing the difference between a "seasonal" and "year-round" property mortgage will help you narrow down your listings.
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Make an Offer: Work with your real estate agent to place an offer on your desired property, backed by solid financing advice.
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Secure Financing: Once your offer is accepted, I will finalize the mortgage details to ensure the property meets insurer guidelines.
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Close the Deal: Complete the necessary paperwork and take possession of your new retreat.
Quick Facts
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Free Consultation: Discuss your options and budget without any obligation.
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No Broker Fees: In most standard transactions, the lender pays my commission, so you don't have to.
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Best Rates: Access to the most competitive rates on the market.
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Alternative Solutions: If traditional banks decline the property due to location or zoning, I have access to alternative lenders who can help.
Contact Me Today
Ready to purchase your second home?
Contact Shawn Mooney at Mortgage Architects to learn more about how we can help you achieve your goals. Let me guide you through the process and ensure you get the best mortgage solution for your needs.
